Minneapolis, MN, August 11–Target Corp. reported second quarter net income of $540 million, or $0.61 per share, down from $1.41 billion, or $1.53 per share, the year before.
On a continuing operations basis, Target’s earnings grew 50 percent over last year’s $360 million, or $0.39 per share.
Revenue in the quarter was up 14 percent to $11.99 billion from $10.56 billion a year earlier. Same-store sales rose 6.7 percent.
Analysts were expecting quarterly earnings of $0.59 per share and sales of $11.95 billion.
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